We are experts in helping foreign citizens living in Australia on 457 visas buy property in Australia and arrange a 457 visa mortgage approval (up to 90% LVR if required).As a foreign citizen residing in Australia on a working visa, you will not pay a higher interest rate than people who are Australian citizens.

How much can I Borrow?

As a general rule, temporary residents on 457 Visas are limited to an 80% LVR home loan so a 20% deposit plus your costs like stamp duty will be required. However, there are exceptions to this rule if you have strong employment or purchasing with an Australian citizen or permanent resident.

However there are exceptions to this 80% rule. For example, if you are in a professional occupation with at least 12 months in your current role or 2 years in the same line of work then a 90% LVR may be available.

Not sure how much you can borrow for a home loan? Let our borrowing power calculator help you.

What type of property can you purchase?

Temporary residents holding a 457 visa can buy one established dwelling only to live in (see below) and they may buy new dwellings, or vacant land to build new dwellings, because these latter purchases increase the available housing stock in Australia.

You must apply with the Foreign Investment Reveiw Board( FIRB ) for permission to buy.The FIRB assesses applications from foreigners who would like to invest or buy a home in Australia. If you would like to buy real estate in Australia either to live in or as an investment then you may be required to obtain FIRB approval.

Get the same interest rates as an Australian citizen!

As a foreign citizen living in Australia on a working visa, you will not pay a higher interest rate than people who are Australian citizens.Interest rate discounts are available.

Australia aims to promote growth by offering migrants easy options for home ownership, and as such, does not penalise permanent or temporary residents with things such as higher monthly payments. As a temporary or permanent resident, all the same terms, interest rates, and features.

457 Visa Home Loan Application Documents Checklist

To obtain a quick, easy and hassle free approval you will need to supply the following:
-A copy of your Driver's Licence, Passport and/or Birth Certificate and Medicare Number
-A copy of your two most recent payslips (your last two years Group Certificates - now called Payment Summary or PAYG Summary may be required).
-A copy of your savings account statement covering a 6 month period. This will confirm how much you wish to contribute.
-For refinancing an existing loan a copy of your current loan statements for the past 6 months, and additional documentation may be required depending on your circumstances.

Further information will generally be required which depends on your personal circumstances. Aden Finance can step you through what is required for your particular situation.

Why Choose Aden Finance?

We specialise in home loans and providing the most suitable loan for your situation. Our team of dedicated and professional solutions providers are with you every step of the way to ensure that you have a pleasant experience with us.